Technology and the Economy Data Privacy Concerns Take the World by Storm A privacy law in the EU caused major changes to the way companies like Facebook and Google collected and used user data. The law, called General Data Protection Regulation (GDPR), allows people to request data that have been collected about them and restricts businesses on how they can use those data. It also forces companies to notify users of how data collected about them will be used. If companies don't comply with this regulation, they could face up to $1 billion in fines. Not only has GDPR had a major impact on companies doing business in Europe, but Brazil, Japan, and South Korea are following Europe's lead. The EU is encouraging other countries to develop tougher online privacy regulations by making data protection a part of trade deals. Even companies not based in the EU are subject to the regulation if they process the personal data of EU citizens. These requirements are making privacy protection a globalized issue. Conversely, the United States continues to have fewer privacy regulations on internet data collection. These regulatory barriers could have a profound impact on large companies like Facebook, where data collection used for behavioral advertising is worth billions of dollars annually. Facebook claims that user data are crucial to perform the functions that it contracts with users to do. The battle between what data are necessary and what are not is a battle that could loom for a long time.e Critical Thinking Questions 1. What type of international barriers are companies like Facebook and Google facing in the realm of user privacy? 2. Describe the global implications of the GDPR law. 3. How might tougher regulations make it harder for users in Europe to utilize online services?

Technology and the Economy Data Privacy Concerns Take the World by Storm A privacy law in the EU caused major changes to the way companies like Facebook and Google collected and used user data. The law, called General Data Protection Regulation (GDPR), allows people to request data that have been collected about them and restricts businesses on how they can use those data. It also forces companies to notify users of how data collected about them will be used. If companies don't comply with this regulation, they could face up to $1 billion in fines. Not only has GDPR had a major impact on companies doing business in Europe, but Brazil, Japan, and South Korea are following Europe's lead. The EU is encouraging other countries to develop tougher online privacy regulations by making data protection a part of trade deals. Even companies not based in the EU are subject to the regulation if they process the personal data of EU citizens. These requirements are making privacy protection a globalized issue. Conversely, the United States continues to have fewer privacy regulations on internet data collection. These regulatory barriers could have a profound impact on large companies like Facebook, where data collection used for behavioral advertising is worth billions of dollars annually. Facebook claims that user data are crucial to perform the functions that it contracts with users to do. The battle between what data are necessary and what are not is a battle that could loom for a long time.e Critical Thinking Questions 1. What type of international barriers are companies like Facebook and Google facing in the realm of user privacy? 2. Describe the global implications of the GDPR law. 3. How might tougher regulations make it harder for users in Europe to utilize online services?